Compensation that you will receive on a succesful claim is entirely based on your individual circumstances – however in all cases we would expect to recover the fees paid to the Insolvency Practitioner/Supervisor for their services. We would also expect to recover other monies that the Insolvency Practitioner/Supervisor has paid out that they shouldn’t have – this can include commissions/review fees (in instances such as PPI Reclaims) as well as unaccounted for or unnecessary Cat 1 expenses.
How long does the process take?
We estimate a case to take between 4-6 months to prepare, following which – your case will be presented to your Insolvency Practitioner and any third-party mediator, such as the Supervisors regulatory body.
Should we not be in receipt of a satisfactory conclusion at this stage, we will begin litigation against your Insolvency Practitioner/Supervisor – timescales are subject to court case flow.
What happens to my IVA if I am currently still in it?
Given that you are processing a mis-selling claim against your Insolvency Practitioner – it is clear that you are not happy with the arrangement that you have been sold, and would therefore like to exit your arrangement as soon possible.
Should we identify a case for mis-selling, our partner legal practice will be able to advise you further – and if necessary forward your case to provide further debt advice to manage the underlying issue.